Industry observers keep wondering what it would take to produce a wholesale shift in the American automotive marketplace. Despite near-record prices last Spring and the brief push to $4 a gallon several years earlier, U.S. motorists have largely continued buying the products they’ve always bought.
But a new survey suggests the market could hit a “wall” at $4.50 a gallon, nearly nine of every 10 “new-vehicle intenders” telling CNW Marketing they would purchase a more fuel-efficient model “immediately” were prices to reach that level. And the vast majority of those buyers said they would specifically be in the market for a hybrid.
“Toss in the possibility of $5 per gallon gasoline,” said CNW Marketing director Art Spinella, and the study would suggest the hybrid – and presumably electric – vehicle markets should explode.”
Or will they?